S&P rates Everi notes B

S&P said it assigned B issue-level and 5 recovery ratings to Everi Holdings Inc.'s proposed $400 million of senior unsecured notes due 2029. The 5 recovery rating indicates an expectation of modest (10%-30%; rounded estimate: 10%) recovery in default.

All other ratings on Everi, including the B+ issuer credit rating, are unchanged.

Everi plans to use the proceeds, along with a new secured term loan and cash on hand, to refinance all of its debt.

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